In September, all three components were up, when adjusted for inflation, from September 2012.

Corporate and individual income tax receipts were up substantially, while sales tax receipts were up moderately.

Even though the economy is growing, unemployment remains high, Giertz noted. The national unemployment rate has fallen in the past year but remains above 7 percent — high in comparison with past recoveries.

"Unemployment in Illinois is even more dire," Giertz stated in a release from the UI's Institute of Government and Public Affairs.

"The state rate is 9.2 percent. This is the same as one year ago and the second-highest in the nation. Only Nevada's rate is higher."

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